Myanmar issues over US$8 billion worth of trade permits during COVID-19

Over $8 billion worth of export/import permits have been issued online system since the pandemic, said U Min Aung Aye, director of the Department of Trading under the Ministry of Commerce.

From April 1 to September 23, a total of 23,820 licenses to trade valued at around US$8.3 billion were issued by the ministry.

“Anyone can apply for a trading license online now. We are able to service almost 200 out of 300 licenses without physical interaction on a daily basis. We have reduced interaction and managed to keep trade going,” U Min Aung Aye said.

Almost 70 percent of all license applications were processed online since COVID-19 first broke out in late March. Fee payments can also be done online with the Myanmar Payment Union.

Since April 1, 888 and 650 HS (Harmonised System) Codes were extended for exports and imports eligible for online application, respectively. Arrangements are being made for full online application.

The Harmonised System is an international nomenclature for the classification of product under a six-digit code system.

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Source : Myanmar Times

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